The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Nick Son. According to his publicly available FINRA BrokerCheck report, Nick Son has been the subject of multiple customer disputes over the course of his career.

Nick Son is a New York-based securities broker. He has worked in the securities industry for thirty-five years. During his career, he has been registered with sixteen different securities firms.

His Registrations

  • First Investors Corporation (1983-1990)
  • The Mutual Life Insurance Company of New York (1990)
  • Mony Securities Corp. (1990-1992)
  • Polaris Financial Services (1992-1993)
  • Gruntal & Co. (1993-1995)
  • State Capital Markets Corporation (1995-1996)
  • Whale Securities (1996-1997)
  • JW Charles Securities (1997)
  • Josephthal & Co. (1998-2001)
  • Investprivate (2001-2002)
  • Gunnallen Financial (2002-2010)
  • Aegis Capital Corp. (2010-2011, 2014-2020)
  • WTS Proprietary Trading Group (2011-2012)
  • Alexander Capital (2012-2014)
  • National Securities Corporation (2020-Present)

The Allegations

  • In February 2018, a customer alleged that Nick Son executed unauthorized trades and recommended unsuitable investments. This case was settled for $62,946 in damages.
  • In April 2020, a customer alleged that Nick Son recommended unsuitable investments, breached contract, and breached his fiduciary duty. This case is currently pending. The customer is seeking $642,224 in damages.

What Does This Mean?

Securities brokers are a brand of financial advisor known as fiduciaries. As fiduciaries, securities brokers have a legal obligation to always act in the best financial interests of their customers. This obligation is also known as their fiduciary duty. This duty compels brokers to make decisions that best serve their customers as opposed to themselves. This duty is necessary to promote trust between brokers and investors. Without that trust, the professional relationship between the two parties could not exist.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Nick Son, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.